Diwali 2023: Sumeet Bagadia sees Nifty 50 at 24,000 in long term. Recommends these five stocks to buy on Muhurat trading

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Buy or sell stocks: As Diwali Muhurat trading 2023 is fast approaching, stock market investors are looking for value picks, which is expected to generage alpha return in long term. For such investors, Sumeet Bagadia, Executive Director at Choice Broking has some investment tips that investors may like to look at.

Bagadia believes that by Diwali 2024, Nifty 50 index may go up to 24,000 levels, logging around 25 per cent rise from current levels of around 19,500. Speaking on Nifty 50 target by next Diwali, Sumeet Bagadia of Choice Broking said, "Nifty is expected to touch 21,000 in next few months whereas in medium term the 50-stock index is expected to go up to 22,500 levels.

However, if you talk about Nifty 50 index target by Diwali 2024, I believe that the key benchmark index may go up to 24,000 levels." Diwali 2023 Stock Picks: Tata Power, Kajaria, among top 6 IDBI Capital buys On reasons for being so bullish on Nifty 50 index, Sumeet Bagadia said, "In India, it has been found in post-Covid rebound that bull market is comparatively longer than the bear market. On an average we are witnessing three bull market and three bear market in 12-14 months.

So, after current sell off, we can expect Nifty 50 to touch 21,000 mark in near term bull trend. Once the Indian stock market tops out after immediate bull market, we can expect next bull market in new financial year and in that bull trend, Nifty index may touch 22,500 levels." Diwali 2023: Will Nifty give double-digit returns in Samvat 2080? "Once Dalal Street bottoms out after sell off trigger after second bull market from now onwards, we can expect Nifty 50 to touch 24,000 levels by Diwali 2024 in third bull market which is expected in third quarter of FY25," said Sumeet